Boro parted with an initial £9million fees and Carvalhal insists his side do not operate in such markets – making links with the likes of Rhodes and Ross McCormack speculation, and speculation only.

“We don’t spend this money, for sure,” he said.

“In the press I sometimes read a lot about a lot of millions.

“But I still say the chairman is doing very well. We didn’t do any crazy investment in the players with money.

“In the press they talk about players who go for ten, 12 or 15 million.

“People have this idea that we spend this money and people are talking about Rhodes and Adebayor and so on.

“But it is not our reality. Our reality is the balance through the correct money for the correct players.

“And we improve the players so that at the end of the season after costing £1m, they can cost £5million to opponents.

“That is our work and we are doing it very well.

“Sometimes I also think our opponents create an idea we have bigger or better budgets compared with others.

“It is not a reality, it is fantasy.”

While they have not dealt with fees the size of the one paid for Rhodes, it must be noted that Wednesday have spent plenty of cash since the start of last summer, when the Chansiri regime truly burst into life.

Fernando Forestieri, Lucas Joao and Gary Hooper are three forwards to have arrived at Hillsborough for undisclosed fees, believed to be in the region of £3million, £2m and £3m respectively.

Though the overall outlay has been large, Carvalhal insists the spending of chairman Chansiri has been sensible this season.

He said: “We will spend the correct money and our chairman is very clever and very good on management.

“We must spare the reality from the fantasy and we have feet on the floor.

“My chairman also does and is doing very well.

“You must have a good eye to try and bring the correct players.

“Between the quality of the players we choose and the money that we spend, we are doing very well.”